RSI Divergence (Pine v4)

2020년 2월 6일

Summary
Script highlights the divergences in RSI worth taking notice of. By comparing current envionment to relative sample we can see more than
the standard divergences that many catch through analysis. This framework aims to remove the bias or noise many see when looking for any supporting
evidence to their given emotion on a market.

Step-by-Step Walkthrough

• Calculates RSI
  
• Sets Divergence Framework
  
• -------> a. Defining variable values, mandatory in Pine 4)
  
• -------> b. Identify Divergences --> "If bar with lowest / highest is current bar, use it's value"
  
• Compare high of current bar being examined with previous bar's high --> "If curr bar high is higher than the max bar high in the lookback window range"
  
• Finds pivot point with at least 2 right candles with lower value
  
• Finds pivot point with at least 2 right candles with lower value
  
• Plot
  
• Set Alerts
  

This RSI Script is intended for public use and can be shared / implemented as needed
Questions? I do not monitor my TradingView inbox. See email address in signature at the bottom of this page for contact information.

2020년 6월 29일

릴리즈 노트

Complete Upgrade - Logic restructured and implemented.

2021년 11월 28일

릴리즈 노트

upgraded to pine v5

2021년 11월 28일

릴리즈 노트

Added Alert Parameters

2022년 1월 18일

릴리즈 노트

Updating to include the same functionality that the built-in Tradingview RSI Indicator has standard, with SMA/EMA/BBand 'switch' function has recently added + cleaned up some of the syntax to be in alignment with the Pinecoders recommendations.

If the former versions are preferred, simply copy the old pinescript and add as your own indicator.

Cheers,

ET

2023년 5월 11일

릴리즈 노트

May 11, 2023

• Terminology updated
  
• Removal of deprecated 'transp=' color function
  
• User Menu Reformatted
  

2024년 12월 5일

릴리즈 노트

Conversion to Pine v6

• Faster loading and rending on chart
  

2024년 12월 20일

릴리즈 노트

Updated to Pine v6

• Added gradient fill for overbought and oversold
  
• Scales will only show RSI value and RSI MA value
  

2월 18일

릴리즈 노트

2/18/2025
Updated: Menu Inputs and Formatting